In a significant milestone for the Rural Enterprises Financing Project (REFP), it has been announced that over 13,500 beneficiaries have been positively impacted by the graduation program. Launched in the third quarter of 2020, the program aims to improve the living conditions of rural households, focusing on assisting those living below the poverty line.
The program stages, from identification and selection to linking to formal financial services, were strategically designed to develop essential skills in the beneficiaries. So far, 61.44% of the participants are women, and 30.88% are young individuals, reflecting a commitment to the inclusion of often marginalized groups.
The results achieved by the program are remarkable, surpassing the targets set by the REFP. Over 12,334 beneficiaries have developed skills to manage their income-generating initiatives, providing a tangible contribution to improving the quality of life. Furthermore, the formation of savings groups, involving 9,297 beneficiaries (63.49% women), has not only strengthened access to rural financial services but also mobilized a substantial 5 million MZN in savings, directing 4 million towards credits to members.
The positive impact of the program has extended beyond economic spheres, addressing fundamental issues such as chronic malnutrition and the effects of climate change. The REFP, in collaboration with service providers, is actively engaged in raising awareness among beneficiaries about these critical issues, contributing to the overall well-being of rural communities.
As the program progresses, prospects include finalizing graduation program contracts with partners, identifying and connecting additional groups to REFP services, and hiring a service provider to complete the remaining project goals. This success underscores the REFP’s commitment to improving living conditions and strengthening rural communities through access to financial services and skills development.
